Market Internals:
VIX Close_< 31 first cautious signal the market ready to continue the bull trend
VIX < 29.3 a strong positve for the market
VIX Close_38.59 12 September 2011- remains in the cautious/danger zone > 31_29.3
C-RSI-30 negative -8.66
Trader Update:
Hedged *1378 Trade: sold the SPX 500 *1202 - Target Range: below *1096 - Stop: *1187
...holding the *1136/*1146 support range, the SPX 500 rallied into the *1168/*1178 resistance - further upside potential into the *1178 short term trendline resistance based on the September 12 Congestion High *1151 holding
...above trendline resistance *1178, upside potential carries the index int overhead resistance current *1235
...failing *1178, the market turns bearish again - in that case, expect the September 6 Low *1136 to fly out the window, pushing the index for a second test of the bull level *1103 at a minimum
Kind Regards
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